From 21 June 2016 all persons acquiring property in NSW must sign a purchaser declaration confirming they are Australian residents and provide evidence in the form of birth certificates or citizenship certificates. The declaration enables the Office of State Revenue (OSR) to determine if the purchaser is a foreign person and liable to pay the 4% surcharge duty and land tax liabilities which were imposed earlier this year and also to maintain records on property transactions in NSW.
If you would like some further information about the process please don’t hesitate to contact Rachael Thurn, we’re here to help.
Please note the answers provided are for your general information only and we ask that you call our office on 02 6331 2911 to obtain detailed legal advice for your individual situation.